Industrial Gases Market Summary
As per Market Research Future Analysis, the Global Industrial Gases Market was valued at USD 942.02 million in 2022 and is projected to grow to USD 4,986.62 million by 2050, with a CAGR of 6.13% from 2024 to 2050. The growth is primarily driven by increasing demand from the oil & gas industry, particularly for nitrogen, oxygen, and carbon dioxide. The market is characterized by the production and delivery of gases in both liquid and gas forms, catering to various industrial processes and medicinal applications. Notable developments include INOX Air Products' expansion plans in India and the introduction of the CM-900 gas detector by CO2Meter.
Key Market Trends & Highlights
Key trends influencing the Industrial Gases Market include rising demand from various sectors and technological advancements.
- Industrial Gases Market Size in 2022: USD 942.02 million.
- Projected Market Size by 2050: USD 4,986.62 million.
- CAGR during 2024-2050: 6.13%.
- Major expansion by INOX Air Products with an investment of Rs 2000 Crores.
Market Size & Forecast
2022 Market Size | USD 942.02 million |
2023 Market Size | USD 993.24 million |
2050 Market Size | USD 4,986.62 million |
Major Players
Key players include Linde PLC (Ireland), Air Liquide (France), BASF SE (Germany), Air Products and Chemicals Inc. (US), Messer Group GmbH (Germany), Iwatani Corporation (Japan), SOL Group (Italy), Matheson Tri-gas Inc. (US), Taiyo Nippon Sanso Corporation (Japan), and Elliniki Gases S.A. (Greece).